A new startup is looking to help retailers optimize the hundreds of millions of dollars they spend on marketing on the sales floor.
According to a recent article by TechCrunch, Yoobic — created by brothers Fabrice, Avi and Gilles Haiat — provides brands that sell directly to consumers the ability to monitor exactly how their items get displayed in various spaces and retail environments in real time. The company attempts to curtail losses for brands, which it estimates could be as much as €20 billion in revenue each year, due to lackluster execution of in-store marketing campaigns and promotions.
By using Yoobic, brands will be able to be in communication with store teams setting up displays and marketing teams on the ground creating pricing, placement and promotions of their products.
“We believe that brand collaboration demands a new platform,” Fabrice Haiat told TechCrunch.
The product functions by collecting information on each store’s layout (including aisles and endcaps) and creating a database of these architectural details. Brands then use that information to identify opportunities for effective merchandising. The brand managers are able to design a questionnaire and distribute it to teams working to set up displays in store and collaborate in real time. Store teams can then share progress in real time using a barcode scanner and sharing live images of displays.
“The user in-store receives a notification with the guidelines of what needs to be implemented. In a few seconds, they report back to the headquarters, take pictures and answer the questionnaire,” said Haiat. “They can chat directly with their regional manager through the chat if they need any kind of support on how to implement the guideline.” Haiat contends that the app is currently driving a 25 percent net sales increase for its customers and notes, “today, we are launching our five-day go-live program.”